Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against BloFin+0.504%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$640.639% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.438%−$44 on $10k

Price spread, last 4 days (all we have)−2.017%−$202 · spread now +0.504%, 7d avg −0.041%

Together, before fees−2.455%−$246 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.545% dearer against BloFin than usual: you sell high and buy low (spread +0.504% now, against its 7-day average of −0.041%): +$54 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2102	0.0340	pay 0.0170% / 4h	1h 27m	$5.6M	$3.1M	75x
Short	ApeX Omni ENAUSDT	0.2113	0.0100	get 0.0013% / 1h	27m 20s	$22K	$652K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.504%Rate

Funding earned: −$50.4
Price spread: +0.504% → −0.041%: $54.47
Slippage, 4 orders: −$41.92
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$59.84
Costs to cover: 0.639%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; ApeX Omni: live order book, 36 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 6 min ago	0.94 bp	8.4 bp −$8	17.5 bp −$175	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	9.40 bp	18.6 bp −$19	147.5 bp −$1,475	doesn't fit	doesn't fit

ENA on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ENA_USDC	−0.0013%	4h	0.2100	−0.109%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2101	−0.052%	$78K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2101	−0.069%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2103	+0.010%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.999%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2102	−0.019%	$55K	$497K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2103	+0.033%	$679K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2104	+0.086%	$113.1M	$71.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2102	−0.007%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2103	+0.041%	$411K	$506K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2102	−0.038%	$128.9M	$419.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2101	−0.048%	$86.1M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2102	−0.019%	$20.7M	$101.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	+0.243%	$19K	$364K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2102	−0.019%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.599%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2101	−0.048%	$11.0M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	−0.019%	$45.1M	$42.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	+0.029%	$24.5M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	−0.157%	$47.8M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2101	−0.057%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2105	+0.138%	$373K	$363K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2113	+0.481%	$3.4M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2110	+0.353%	$243K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	+0.389%	$357K	$4.9M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2113	+0.504%	$22K	$652K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2102	−0.014%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2051	−2.426%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	−0.114%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.176%	$275K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.019%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2101	−0.050%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2100	−0.127%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2101	−0.065%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2112	+0.457%	$8K	$298K	10x	as long as short
dYdX ENA-USD	+0.0169%	1h	0.2104	+0.066%	$139K	$15K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0206%	1h	0.2101	−0.070%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0287%	1h	0.2103	+0.012%	$2.6M	$4.3M	50x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2102	long leg	$5.6M	$3.1M	75x
Lighter ENA	+0.0368%	1h	0.2103	+0.048%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2101	−0.059%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2118	+0.723%	$833K	$1.5M	50x	as long as short